INTERNATIONAL SCIENTIFIC CONFERENCE THE BUSINESS LAWYERS ASSOCIATION OF THE REPUBLIC OF SERBIA
„ECONOMY AND ARBITRATION“

Zlatibor, 28 – 30. May 2018

In the period from 28 – 30. May 2018 on the mountain Zlatibor, Serbia, in the congress center of the hotel „Mona” in the presence of over 350 participants and 85 exhibitors was held the XXVII May Meeting of Lawyers in the Economy of Serbia on the theme “ECONOMY AND ARBITRATION”. The meeting was opened by the president of the Business Lawyers Association of the Republic of Serbia, academician Dr. Mirko Vasiljević, full professor at the Law Faculty, University of Belgrade.

At this traditional gathering of prominent lawyers, both from the field of theory and from domestic and comparative practices, which for the second consecutive year was dedicated to one of the most current topics – Arbitration, the lawyer Dr. Jovana Pušac presented her scientific paper entitled „THE PRACTICE OF THE COURTS IN BOSNIA AND HERZEGOVINA IN THE FIELD OF ARBITRATION”.

In this paper, it is emphasized that although arbitration is a multiple useful method of settlement of disputes by a non-state court (an individual arbitrator or a council of arbitrators) constituted by a party’s agreement, with the aim of making decision on merits having the effect of a final court judgment, results of the research of court practice in Bosnia and Herzegovina show that this model of the “private trial” is insufficiently represented in this jurisprudence. Hence, with the aim of demystifying this matter, the Author in the first part of the paper primarily expose Arbitration Procedural Law that will be applicable to arbitration with seat in Bosnia and Herzegovina, while in the second part presents actual court decisions with a view to arbitration. Although formally not part of the judicial system, it is reasonable to expect that arbitration in this region will begin to live in the near future, even among domestic companies. This especially if, on the one hand, we have on mind the long-lasting, exhausting and uncertain ways of judicial „fighting“, and, on the other hand, the benefits of arbitral dispute resolution starting with flexibility, non-publicity, speed of decision making, and related and cost, because Time is Money, but above all – expertise and confidence of selected arbitrators.

Following the presentation of all the papers and discussions held at the end of the XXVII of the Meeting of Lawyers in the Economy of Serbia, numerous messages were also adopted, among them the message that Lawyers in the Economy of Serbia are in the logic of their professional vocation agree with the general identification of time and money – the most important economic resources. Consequently, it is also the strongest promoter of arbitral dispute resolution of commercial disputes in court, since it brings significant savings both time and money to business entities as the only creators of new values. Hence, it is necessary to work more intensively to identify not only these, but also numerous other comparative advantages in relation to judicial resolution (flexibility, choice of the law system, choice of forum for resolving the dispute, selection of arbitrators, specialization, domination of private legal will, preservation of the business relationship, the possibility of resolving the principle of justice, easier recognition and execution of foreign arbitration decisions in relation to foreign court decision, confidentiality).

In this important scientific conference were also participating Mrs. Jelena Pušac Broćilović, legal consultant of the JP Law Office and Mrs. Danijela Petrov, the head of the legal affairs department of the Post Srpska a.d. Banja Luka.

Until the next meeting!